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During the year, Olivia holds two jobs. After an eight-hour day at the first job, she works three hours at the second job. On Fridays of each week, she returns home for dinner before going to the second job. On the other days (Monday through Thursday), she goes directly from the first job to the second job, stopping along the way for a meal. The mileage involved is as follows: Home to first job 15 First job to second job 18 Home to second job 20 Assuming that Olivia works 48 weeks during the year, how much of her mileage is deductible?
1. Wayne and Maria file a joint tax return on which they itemize their deductions and report AGI of $50,000. During the year they incurred $1,500 of medical expenses when Maria broke her leg. Furthermore
Finlon Upholstery, Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on December 31, 2011, consisted of one job (no. 2077), which was carried on the year-end balance sheet at $156,800. Determine ..
prepare the entry to record income tax given the following information and show how the related liabilities would be
lindex company uses a process costing system. the following data are available for one department for octoberpercent
The Athletic Accountant Company produces exercise equipment for accountants. Its main product, the Pencil-Pusher Push-Up Platform, is sold with a three-year warranty against defects. amount that should have appeared in warranty obligation
What are the two methods used to convert trial balances from foreign currencies into U.S. dollars? Describe the situations when you would use each method.
Prepare dated journal entries for ABC Corporation in U.S. dollars for the incurrence and settlement of this foreign currency transaction. ABC Corporation employs a two-transaction perspective.
The primary revenue source for not-for-profit organizations is contributions. Please define what a contribution is, and discuss how the different types of contributions are recognized as revenue
mike and carl want to start a business of providing courier services. the have the following options available
Audit working papers are an integral part of an examination in accordance with generally accepted auditing standards. a) Describe three major functions of the audit working papers. b) Distinguish between the permanent working paper file and the curre..
Assume that at the high point month of producing the most of production during a five month time period 50,000 units were produced at a cost of 550,000 and the low point month producingthe least of production during a five monthtime period 20,000 ..
what are direct materials? give an example of a direct material. how do direct materials differ from indirect
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